15 Jun 2020|Moody's Investors Service
On 12 June, the UK formally confirmed that it will not request an extension of the Brexit transition period with the European Union beyond 31 December. With an extension of the transition period off the table, risks are rising that no agreement will be reached. Such an outcome, a so-called no-deal Brexit, would be a clear credit negative for debt issuers in both the UK and the EU.
Coronavirus – UK: No-deal Brexit would compound credit risks for sectors hit by coronavirus disruption
10 Jun 2020|Moody's Investors Service
We forecast the UK economy to experience its deepest recession in almost a century as a result of the impact of the coronavirus outbreak and associated public health policy response. Although we expect the economy to begin to recover in the second half of the year, a no-deal Brexit at the end of 2020 could significantly damage the UK's nascent economic recovery.
RMBS – United Kingdom: “Brexit bounce” will support UK RMBS through first-half 2020, before longer-term housing market uncertainty returns
26 Feb 2020|Moody's Investors Service
On 21 February, the UK's HM Revenue and Customs reported an uptick in the number of residential property transactions in the past month. Recent data reveals that cautious optimism has returned to the UK housing market, but we expect this trend to be short-lived in 2020.